How much deposit do I need to put down to purchase a Buy to Let?
The minimum deposit is usually 20%.
Read moreThe minimum deposit is usually 20%.
Read moreYes, it is compulsory to have buildings insurance on your property in case of unforeseen damage or destruction if you wish to secure a mortgage on it. Your Solicitor may ask to see a copy of your buildings insurance policy to check against your lender’s Valuation...
Read moreYes it is possible to have a mortgage secured onto a property through a Limited Company name for tax efficiency purposes.
Read moreNo, they are different: residential mortgages cannot be used to purchase Buy-to-Let properties, and vice versa. There are specific Buy-to-Let mortgage products available from a number of lenders. Some will look at the borrower’s financial circumstances before...
Read moreVisit the government’s website for the current rates of stamp duty: https://www. gov. uk/stamp-duty-land-tax
Read moreIn the final months of your current fixed or discounted rate, it is time to contact us here at Turney & Associates to avoid paying your existing lender’s standard variable rate for your Residential or Buy-to-Let mortgage(s). We would be pleased to discuss your...
Read moreMost lenders offer the option to borrow more money against the security of your home. If your existing fixed interest rate mortgage is midway through its term, you might not want to pay any Early Repayment Charges, so a Further Advance might be an option for you. We...
Read moreAn Offset Mortgage works by ‘offsetting’ a mortgage borrower’s savings against what they owe on their mortgage, which has the effect of reducing the overall amount of interest that they pay. For example: A Borrower has a £100,000 mortgage and also has £20,000 in...
Read moreEquity release is a way of getting cash from your home, whilst you remain living there. The value or equity you have in your home is its open market value less any mortgage or other debt secured against it. Although the value of houses has risen over the years,...
Read moreYes. Stipend income is usually paid to those working towards a PhD or completing research for a university. There are a number of lenders which will lend to PhD students earning a stipend income, providing they are purchasing a property jointly with another...
Read moreNo. The lack of regulation in this market led to all kinds of shady practices which eventually led the Financial Conduct Authority (FCA) to ban self-certification of income. In the current mortgage market, lenders will want to see a copy of the applicant’s...
Read moreOffers are subject to individual circumstances. You will be asked to prove your income with either certified accounts or if you file your own accounts, a copy of a HMRC’s SA302 and Tax Year Overview documents. Lenders usually use a self employed applicant’s net income...
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